3 Reasons Why Renting Can Be Smarter Than Owning a Home in Retirement by Carla Fried If you’re nearing retirement, it’s likely that renting is a distant memory. But if your retirement plan includes making a move, renting might be a sweeter financial and lifestyle fit. Among households with someone at least 65 years old, 8 in 10 are homeowners, according to Harvard’s Joint Center for Housing Studies.